The Business Research Company’s report on the Steel Fiber Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the steel fiber market’s growth in recent years?
Growth in the construction industry is expected to propel the growth of the steel fiber market. The construction industry deals with the building of houses, bridges, and other buildings. Steel fiber is widely used in construction and civil engineering materials due to its superior properties such as high impact resistance, greater fatigue survival, long lifespan, and reduced maintenance costs. It is used in many applications, such as parking lots, playgrounds, airport runways, taxiways, maintenance hangars, access roads, and workshops. According to the World Bank and McKinsey estimates, the global expenditure from the construction industry is expected to grow by 47%, reaching $14 trillion by 2025. Therefore, rapid growth in the construction industry drives the steel fiber market.
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How does the future projection of the steel fiber market size compare to its historical growth?
The steel fiber market size has grown strongly in recent years. It will grow from $2.34 billion in 2024 to $2.53 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growing infrastructure, supportive government policies, increased adoption of steel fiber reinforcement inThe construction industry, need for durable and strong construction materials, rising investments in infrastructure development.
The steel fiber market size is expected to see strong growth in the next few years. It will grow to $3.47 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to expansion in the transportation sector, increasing urbanization, growing need for durable and sustainable infrastructure solutions, growing trend of precast construction, global economic growth. Major trends in the forecast period include technological advancements, microfiber technology, customization and specialty fibers, integration with 3d printing, development of innovative steel fiber products with advanced properties.
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Which key players are shaping the future of the steel fiber market?
Major companies operating in the steel fiber market include Arcelor Mittal SA, N. V. Bekaert S. A., Fibro Metals SRL, Nippon Seisen Co. Ltd., Zhejiang Boean Metal Products Co. Ltd., Green Steel Poland Sp. z o. o., Spajic Doo, Hunan Sunshine steel fiber co. Ltd., Yuthian Zhitai Steel fiber Manufacturing Co. Ltd., Ugitech S. A, Intra Micron Inc., Kosteel Co. Ltd., Junwei Metal Fiber Co. Ltd., Maccaferri SpA, The Euclid Chemical Company, Nycon Corp., Jiangsu Daqi Metal Surface Treatment Co. Ltd., Fabpro Polymers Inc., Cangzhou Daye Metal Fiber Co. Ltd., Onward Chemicals Pvt. Ltd., Ribbon Technology Corporation, Fibercon International Inc., Stewols India Ltd., Bekaert Corporation, Euclid Chemical Co., Steelcon Pty Ltd., Hengyang Steel Fiber Co. Limited, Steel Wire Corporation of America, Zibo Tenran Steel Fiber Co. Ltd
What trends will propel the growth and evolution of the steel fiber market?
Major companies operating in the steel fiber market are developing innovative to meet larger customer bases, increase sales, and increase revenue. Innovative solutions in the steel fiber industry refer to novel and advanced applications, manufacturing techniques, or material compositions that enhance the performance and versatility of steel fibers in reinforced concrete and construction. For instance, HiPer Fiber LLC, a US-based steel fiber company, launched HiPer Fiber, a new type of steel fiber. It has capability to triple the fiber utilization rate, leading to a significant boost in efficiency and the potential for substantial advantages. In contrast to conventional fibers with smooth surfaces, HiPer fibers feature striations that ensure exceptionally effective anchoring within the ultra-high-performance concrete (UHPC) matrix.
Which regions are expected to become dominant players in the steel fiber market?
Asia-Pacific was the largest region in the steel fiber market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steel fiber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the steel fiber market, and how are they evolving?
The steel fiber market covered in this report is segmented –
1) By Type: Hooked, Straight, Deformed, Crimped
2) By Application: Concrete Reinforcement, Composite Reinforcement, Refractories
3) By End User: Polymer, Chemical, Pharmaceutical, Aircraft Or Maritime Or Machine, Measuring And Instrumentation Devices, Other End-Users
Subsegments:
1) By Hooked: Standard Hooked Fibers, Specialty Hooked Fibers
2) By Straight: Round Straight Fibers, Flat Straight Fibers
3) By Deformed: Short Deformed Fibers, Long Deformed Fibers
4) By Crimped: Short Crimped Fibers, Long Crimped Fibers
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How is the steel fiber market defined, and what are its core characteristics?
Steel fiber refers to steel strips with short ends that have been specially manufactured to strengthen the concrete by resisting tensile cracking and are used to replace traditional reinforcement in certain non-structural applications as well as minimize cracking by providing good impact strength, high load-bearing capability after being cracked, good ductility, and high resistance.
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